SmartMoney's The Tax Guy echoes in detail what the law means for your taxes. Bottom line: Wealthy taxpayers will pay more in 2013. Annual Health Savings Account health flexible spending accounts or employer-funded health reimbursement account contributions will be capped at $2,500. And the already hard-to-claim itemized deduction for medical expenses will get even harder to claim.

JP Morgan Chase's trading losses could reach $9 billion, the New York Times reports. Says Mark Williams, a Boston University professor of
finance and former Federal Reserve bank examiner: “Essentially, JPMorgan has been operating a hedge fund with federal
insured deposits within a bank.” Do you agree?